Gold little changed with US inflation data in sight
GLD•Upcoming data and events
| Time (GMT) | Event |
|---|---|
| 0600 | Germany HICP Final YY Aug |
| 0800 | China Total Social Financing Aug |
| 0800 | China M2 Money Supply YY Aug |
| 0800 | China New Yuan Loans Aug |
| 1215 | EU ECB Refinancing, Deposit Rate Sep |
| 1230 | US Initial Jobless Clm 5 Sep, w/e |
| 1230 | US PPI Machine Manuf'ing Aug |
| 1400 | US Existing Home Sales Aug |
Other metals and market background
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The European Central Bank looks set to raise interest rates on Thursday for the second time this year, seeking to head off an energy-driven surge in inflation triggered by the Iran war.
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Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, in the biggest wave of attacks on shipping by both sides since the start of the six-month-old war.
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Among other metals, spot silver XAG= was flat at $67.30 per ounce, platinum XPT= rose 0.1% at $1,897.57 and palladium XPD= gained 0.2% to $1,355.44.
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The global platinum market will swing to a surplus for the first time since 2022 this year due to weaker investment and jewellery demand, the World Platinum Investment Council said.
